Cost of Living in Cambridge in 2020: Condominiums
Charles Cherney
Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...
Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...
How much does a condominium cost in Cambridge, MA?
At the end of 2012, the average cost of a condo in Cambridge, MA was $509,937.
At the end of 2015, the average cost of a condo in Cambridge, MA was $714,819..
At the end of 2018, the average cost of a condo in Cambridge, MA was $940,950.
If we look at the five quarters beginning January 1, 2019 and ending March 31, 2020:
The average sale price of a condo in Cambridge, MA at the end of this period of time was $949,753.
655 condo sales in Cambridge, MA during this period of time (1/1/19 – 3/31/20):
• 45 Sales under $500,000 (and NONE under $300,000) (7% of Cambridge condo sales)
• 415 Sales between $500,000 and $1M (63% of Cambridge condo sales)
• 124 sales between $``1M and $1.5M (19% of Cambridge condo sales)
• 7` sales for $1.5M+ (``% of Cambridge condo sales)
The heart of the condo market in Cambridge is between $600,000 and $800,00 with 214 sales in this price range during this timeframe.
Here are four Cambridge condos I listed and sold during this period of time to give you a better sense of the condo market in Cambridge, MA in 2019-2020:
Sold for $486,525 ↓↓↓↓↓ Top floor 2-BR near Central Sq.
Sold for $658,000 ↓↓↓↓↓ North Cambridge 2-BR with Deck
Sold for $1,270,000 ↓↓↓↓↓ Top floor 2-Br in Porter Sq.
Sold for $2,550,000 ↓↓↓↓↓ Harvard Sq. 1+ with Charles River Views
The average sale price of a condo in this period of time (1/1/19 – 3/31/20) was 101% of the list price.
CLICK HERE to see the condos now for sale in Cambridge, MA.
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